Rating of The Day: Is Agco Corporation (NYSE:AGCO) a Stock to Buy After Piper Jaffray Upgrade?

November 28, 2016 - By Winifred Garcia

Rating of The Day:  Is Agco Corporation (NYSE:AGCO) a Stock to Buy After Piper Jaffray Upgrade?

Agco Corporation (NYSE:AGCO) Upgrade

In a an analyst report revealed to clients on 28 November, Piper Jaffray stated it was upgrading Agco Corporation (NYSE:AGCO) stock from a Underweight to a Neutral.

AGCO Corporation (NYSE:AGCO) Ratings Coverage

Out of 12 analysts covering Agco Corporation (NYSE:AGCO), 1 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 8% are positive. $54 is the highest target while $39 is the lowest. The $47.82 average target is -15.06% below today’s ($56.3) stock price. Agco Corporation has been the topic of 24 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Underweight” rating on Monday, June 27 by JP Morgan. The firm earned “Equal-Weight” rating on Wednesday, October 12 by Barclays Capital. Deutsche Bank initiated the stock with “Hold” rating in Wednesday, September 7 report. The rating was upgraded by Vertical Research on Thursday, July 30 to “Hold”. RBC Capital Markets maintained it with “Sector Perform” rating and $46 target price in Wednesday, December 16 report. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, December 16 report. The rating was maintained by Bank of America on Friday, September 25 with “Neutral”. The firm earned “Outperform” rating on Monday, October 10 by Wells Fargo. The stock has “Hold” rating given by Deutsche Bank on Thursday, December 17. RBC Capital Markets maintained the shares of AGCO in a report on Thursday, April 28 with “Sector Perform” rating.

About 813,893 shares traded hands. AGCO Corporation (NYSE:AGCO) has risen 6.52% since April 25, 2016 and is uptrending. It has outperformed by 0.51% the S&P500.

Analysts await AGCO Corporation (NYSE:AGCO) to report earnings on February, 7. They expect $0.72 EPS, down 10.00% or $0.08 from last year’s $0.8 per share. AGCO’s profit will be $58.19M for 19.55 P/E if the $0.72 EPS becomes a reality. After $0.51 actual EPS reported by AGCO Corporation for the previous quarter, Wall Street now forecasts 41.18% EPS growth.

Insitutional Activity: The institutional sentiment increased to 0.87 in Q2 2016. Its up 0.26, from 0.61 in 2016Q1. The ratio increased, as 49 funds sold all AGCO Corporation shares owned while 133 reduced positions. 20 funds bought stakes while 91 increased positions. They now own 70.87 million shares or 7.82% less from 76.88 million shares in 2016Q1.

Third Avenue Management Ltd holds 1.45% or 692,928 shares in its portfolio. Weaver C Barksdale & Assoc, a Tennessee-based fund reported 613 shares. The Pennsylvania-based Twin Mgmt has invested 0.1% in AGCO Corporation (NYSE:AGCO). First Advsrs Limited Partnership holds 99,345 shares or 0.01% of its portfolio. Sumitomo Mitsui Asset Mgmt Co Ltd last reported 4,852 shares in the company. Gemmer Asset Ltd Liability Corporation holds 170 shares or 0% of its portfolio. Creative Planning accumulated 11,366 shares or 0% of the stock. James Inv Incorporated, a Ohio-based fund reported 56,310 shares. The New Jersey-based Prudential Finance Inc has invested 0.03% in AGCO Corporation (NYSE:AGCO). Blackrock Gru has 314,329 shares for 0.01% of their US portfolio. Zuckerman Invest Gru Ltd Liability owns 277,195 shares or 3.49% of their US portfolio. New York State Common Retirement Fund has 0.02% invested in the company for 304,750 shares. Bankshares Of Ny Mellon holds 0.02% of its portfolio in AGCO Corporation (NYSE:AGCO) for 1.13 million shares. California State Teachers Retirement System holds 151,489 shares or 0.02% of its portfolio. Westwood Holdings Grp reported 41,251 shares or 0.02% of all its holdings.

Insider Transactions: Since August 16, 2016, the stock had 0 buys, and 2 insider sales for $135,870 net activity. On Monday, November 14 the insider COLLAR GARY L sold $122,377. The insider Veltmaat Hans Bernd sold $13,493.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The company has a market cap of $4.55 billion. The Firm sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems. It has a 29.14 P/E ratio. The Company’s divisions include North America, South America, Europe/Africa/Middle East, and Asia/Pacific.

According to Zacks Investment Research, “AGCO CORP. is engaged in the manufacturer and distribution of farm equipment, machinery and replacement parts in the United States and Canada. Products include tractors, combines, hay tools and forage equipment and implements.”

AGCO Company Profile

AGCO Corporation, incorporated on April 22, 1991, is a maker and distributor of agricultural equipment and related replacement parts around the world. The Firm sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems. The Company’s divisions include North America, South America, Europe/Africa/Middle East, and Asia/Pacific. The Company’s Chinese harvesting business operates within the Asia/Pacific segment. The former sprayer reporting unit operates within the North American segment. The Company’s products are marketed under various brands, including Challenger, Fendt, GSI, Massey Ferguson and Valtra. It also provides retail financing through its finance joint ventures with Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A.

Another recent and important AGCO Corporation (NYSE:AGCO) news was published by Nasdaq.com which published an article titled: “AGCO Corporation (AGCO) Ex-Dividend Date Scheduled for November 10, 2016” on November 09, 2016.

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